The conversion price of GameStop's $1.3 billion Bitcoin convertible bonds is 35% higher than the closing price

Foresight News reported that according to CoinDesk, GameStop has priced a $1.3 billion convertible senior bond, which is planned to be used to increase holdings of Bitcoin. The bond will mature in 2030, with an initial conversion rate of 33.4970 shares per $1000, corresponding to a conversion price of approximately $29.85, representing a premium of approximately 35% over Thursday's closing price of $22.09. If successfully released, GameStop will become the fourth largest publicly traded company in the world to hold Bitcoin, after Riot Platforms and surpassing Tesla.